Spencer Jakab
speaker
981 appearances
14 recordings
1 series
first heard Jul 2017
last heard Jun 2021
Spencer Jakab’s voice in public audio — every appearance, attributed to the second.
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Appearances
It's not especially useful for a lot of stuff these days.
So it's something that you can store in your home or in a safe or a safe deposit box if you're very concerned about kind of a general breakdown of society and the worthlessness of money.
But as we've discussed, there are a lot of things if you're not worried about a complete societal breakdown.
that do better than gold, that actually earn you a return during periods of high inflation.
And if you're really concerned about society breaking down, then gold might not be the best thing to own anyway.
You might want, you know, canned food and ammo and stuff like that.
And so gold is, you know, gold, I would say, has a dubious record that way.
If you're someone making $30,000 or $40,000 a year, you probably don't work at a place that has a 401k or are much less likely to.
you probably have a lot less tax savvy, and you're much more likely to encounter the kind of emergency in your life where you have to borrow from or cash out part of your 401k and pay a big penalty in the process.
Well, part of the problem should be obvious is that income and wealth are not even in this country.
They're less even than they used to be.
But that's not the only issue.
I mean, if you make more, you can afford to save more.
If you're less than 50, you can put $19,500 into a 401k plan.
And if you're above that age, you can put in a catch-up contribution.
That's a lot of money for someone of median income.
So you probably would put in quite a bit less or not
be able to afford to put in that much.
But that's far from the only problem.
If you're an upper middle class person or even a wealthy person, you're probably given a match by your company.
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